[00:00:07] This is the Kate Dalley Show.
[00:00:17] All right, welcome back to the Kate Dalley Show. I know, we need like five more hours with Mitch. Mitch Bexler joins me from Denton, Texas and MockingbirdProperties.com. You can go there for graphs and charts and more info and dialing in on the details and specifics, okay?
[00:00:34] So, I just want to lay this out again because it's really, I think it's kind of hard for people all across the board to understand this ginormous theft that's happening in America right now.
[00:00:46] So, I have noticed through 14 years of radio that the cities have like say 100,000 people, but their budgets are like 550 million, okay?
[00:00:57] Which doesn't compute, doesn't add up. A lot of the money is hidden in future real estate projects, future land acquisitions, future, future, future.
[00:01:05] It's all they ever talk about to get reelected and it's all in capital projects, okay?
[00:01:10] So, lots of money I feel hidden, hidden, hidden, hidden.
[00:01:13] Then you have the counties setting these budgets and then making sure, wink, wink, that the properties add up to said budgets.
[00:01:22] Which it doesn't, but somehow magically, magically delicious, it just does.
[00:01:28] And all of a sudden, you're paying this huge amount of property tax that you should not be paying.
[00:01:33] It's not legal, but it meets the specific number of budget.
[00:01:37] On top of that, you have the feds coming in with affordable, affordable, it's government housing, utilizing HUD, which is a total scam and money laundering post, I think.
[00:01:46] The money goes in, no one ever really knows where all the money's going.
[00:01:49] And then, the money is inflated again.
[00:01:52] It's all inflated in bonds, okay?
[00:01:54] The schools are not, the budgets there are not about your kids, it's about pensions.
[00:02:00] You have the other layer of black rock on top of this, buying up real estate and then also on these bonds, on these pension bonds, okay?
[00:02:09] And inflating, inflating, inflating, which is going to lead to mass homelessness when the bottom drops out.
[00:02:18] So, what, what, okay, is there anything you want to comment on any of that?
[00:02:22] Because I'm watching city budgets hyperinflated, I'm watching county budgets hyperinflated.
[00:02:27] What happens?
[00:02:28] What's next?
[00:02:29] Well, mom and pop have to understand that all real estate is local.
[00:02:39] So, everything you said is correct, okay?
[00:02:43] Regardless whether black rock is going to, is the devil or not, that's kind of not the point.
[00:02:47] It's the bonds and it's the pensions that have invested in black rock.
[00:02:49] The counties and cities are enabling this in the states.
[00:02:52] They're all enabling it, but they also, for the most part, can't read a balance sheet.
[00:02:56] They haven't got a clue what they're looking at.
[00:02:58] They're just going along with the idea of getting along and they don't even understand what the ramifications of their actions are.
[00:03:05] And that's why we are at the tipping point.
[00:03:07] There is no more math left to support the drug addicts.
[00:03:10] They have become addicted to the implicit guarantee of mom and pop to the point where they have stripped their equity.
[00:03:48] If they looked at real income statements and said, okay, this is the value of this property based on this income statement, that's fine.
[00:03:54] But they didn't do that.
[00:03:55] They've jumped the shark.
[00:03:57] What they've done is they've added so many layers of multiple debt on top of debt, never mind paying off the prior bonds.
[00:04:03] So it's cumulative and it's compounding.
[00:04:07] So you have a mortgage on your house.
[00:04:09] Most people have mortgages on their house and you pay that off over 30 years.
[00:04:13] Mom and pop in today's world can't do that.
[00:04:16] And then I just finished a spreadsheet a couple of days ago.
[00:04:19] It's not public yet, but it proves that if you invest in a home, you will, at max, at best, you'll make 1% on your money.
[00:04:27] Jeez.
[00:04:28] That's how perverse this has gotten out of hand.
[00:04:30] And everyone has a hand in the cookie jar to give their office or their government entity more and more and more inflated numbers with this budget.
[00:04:42] And this is why it's so high is everyone's got their little hand in to get their exceeded budget amount.
[00:04:47] Yes, absolutely.
[00:04:49] And there is no math to pay for this.
[00:04:52] The values have gone up 21.25 trillion in five years.
[00:04:56] That's the overvaluation.
[00:04:58] That's not the valuation.
[00:04:59] That's the overvaluation.
[00:05:02] Okay?
[00:05:03] And that is why 450 billion was taken from mom and pop over and above the valuation in 2024 alone.
[00:05:11] So this is cumulative compounding.
[00:05:13] The government, like your taxing entities, your school districts, they're not paying this debt off.
[00:05:19] Right.
[00:05:20] They're the reverse of your mortgage.
[00:05:22] Your mortgage, you can pay it off over 30 years.
[00:05:24] Right.
[00:05:24] This is cumulative compounding in the other direction.
[00:05:27] And then you add on the rule of 72 that basically says your debt, depending on the interest rate, is going to double in the next seven years.
[00:05:37] We're at the tipping point.
[00:05:38] This is game over.
[00:05:39] Whether it happens this year or next year, nobody knows.
[00:05:42] But mathematically speaking, these school districts are bankrupt, as I've said, today.
[00:05:46] Not tomorrow.
[00:05:47] Today.
[00:05:48] Oh, my gosh.
[00:05:48] There's a course.
[00:05:50] Can you please tell people about this?
[00:05:52] Travis Spencer, with Real Estate Mindset, created a free course.
[00:05:58] It's on Teachable.
[00:05:59] And what it does is it will walk people through.
[00:06:02] It's 40 chapters.
[00:06:03] And you can get through it fairly quickly.
[00:06:05] But it will teach people how to go and find, in their neighborhood, true comparisons.
[00:06:12] So that when they go to the ARB hearing, the Appraisal Review Board hearing, they have true comparisons rather than relying on the Central Appraisal District that is going to lie to you and say, well, these are the comparisons.
[00:06:23] And by the way, that is exactly what the Central Appraisal District will tell the ARB board.
[00:06:27] These are the comparisons.
[00:06:28] Yeah, because it's the government's own system.
[00:06:30] Yes?
[00:06:31] Yes.
[00:06:32] Plus, it's also overwritten by hand on top of it.
[00:06:35] So the point of the matter is whatever is coming out of their mouth, you can pretty well bet isn't true.
[00:06:39] Right.
[00:06:39] And therefore, by the way, they do not have the unilateral right to pick the comparisons.
[00:06:44] There's no law that says that.
[00:06:45] And then.
[00:06:45] So therefore, you're better off going in with true comparisons, meaning here's the pictures, here's the neighborhood, here's the improvements on the house.
[00:06:52] And then you have an argument appropriately and calmly to make at the ARB hearing.
[00:06:57] They're not your enemy.
[00:06:58] The ARB isn't your enemy.
[00:07:00] They don't know what they're doing because this is what they've been taught.
[00:07:04] So in other words, the Central Appraisal Districts have morphed them into doing the bidding for the Central Appraisal Districts, even though allegedly they're there to help mom and pop.
[00:07:13] I see.
[00:07:14] I see.
[00:07:15] And what's the guy's name again?
[00:07:17] Travis Spencer.
[00:07:18] Travis Spencer.
[00:07:19] And it's real estate mindset.
[00:07:20] It's unteachable.
[00:07:21] It's really good.
[00:07:22] Okay.
[00:07:22] Because if people started suing, if people started doing this all over the country, we actually could make some headway on this.
[00:07:30] It's always we the people, the answer.
[00:07:32] Yes.
[00:07:32] Government's not going to correct themselves.
[00:07:34] It's 100% local.
[00:07:35] If you're so inclined to file suit because you've got a little bit of money, find an attorney who can add one and one and understand what the math is and that it's not just the law.
[00:07:46] You have to argue the law and you have to argue USPAP.
[00:07:49] When you put those two things in combination, they cannot win.
[00:07:53] The facts are the facts.
[00:07:55] They have committed fraud.
[00:07:56] That is irrefutable.
[00:07:58] We've got the evidence and we've got multiples of evidence across the United States now.
[00:08:03] So never mind what we've done in Texas.
[00:08:05] This is everywhere.
[00:08:06] Over 3,100 counties.
[00:08:08] And you can go to Mockingbird Properties for more specific, more detailed information on this.
[00:08:14] My biggest thanks to you, Mitch, for whistleblowing on this.
[00:08:17] Thank you.
[00:08:17] Yeah, if somebody wants to go to the website, mockingbirdproperties.com forward slash DCAD.
[00:08:24] And if there's any attorneys or accountants that want the super heavy information, send me an email and I'll give you the password to the backside of the front page.
[00:08:34] The front page is really put together for mom and pop.
[00:08:37] It's a lot, but it's all there.
[00:08:39] Thanks, Mitch.
[00:08:39] Mitch Bexler.
[00:08:40] I know.
[00:08:41] You're probably reeling.
[00:08:43] All right.
[00:08:44] KateDallyRadio.com for the podcast of this hour.
[00:08:47] Three months.
[00:08:48] Three months.